Suzuki improves sales and profits
Suzuki Motor Corporation (SMC) ended the financial year through March 31, 2011, with increased consolidated sales and profits compared to the previous year, despite a severe market situation.
The tough situation caused by the exchange influences was recovered by the increased sales of automobiles and motorcycles in Asia, and increased income from the sales increase and cost reductions.
Consolidated sales increased to ¥2.61 trillion or $32.36 billion (105.6 per cent year on year), and consolidated profits exceeded those of the previous year with ¥106.9 billion or $1.33 billion of operating income (134.7 per cent YOY), ¥122.5 billion or $1.52 billion of ordinary income (130.5 per cent YOY) and ¥45.2 billion or $560.48 million of net income (156.2 per cent YOY).
The automobile segment achieved increased overall sales volume of 2,642 thousand units (112.4 per cent YOY) and increased global sales of ¥2.32 trillion or $28.77 billion (106.4 per cent YOY).
The operating income increased to ¥108.5 billion or $1.35 billion (119.8 per cent YOY) due to increased sales in emerging countries such as India and Indonesia.
In the motorcycle segment, overall sales volume (ATV included) was 2,695 thousand units (89.3 per cent YOY) and global sales were ¥257.7 billion or $3.2 billion (98.0 per cent YOY) with an operating loss of ¥10.8 billion or $134 million on account of the continued sales slowdown of large-size motorcycles to Europe and the U.S., but operating loss was reduced by ¥10.3 billion or $127.7 million because of improvement of operating results in Asia.
Sales and operating income of marine and power products business were ¥48.6 billion or $602.64 million (107.1 per cent YOY) and ¥6.7 billion or $83.08 million (126.2 per cent YOY) because of the sales increase mainly in Europe, North America, Asia and Oceania.
As for the operating results of regional segmentation, while the management environment of the Group has remained severe in the US and Europe, sales in Asia increased to ¥948.6 billion or $11.57 billion (121.5 per cent YOY) because of the increased sales of automobiles and motorcycles in various countries such as India, Indonesia, Pakistan and Thailand.
Operating income in Asian region decreased to ¥46.9 billion or $581 million (83.5 per cent YOY).
In Japan, sales were 1.57 trillion or $19.45 billion (105.6percent YOY) because of the increase in exports of automobiles to Europe, Asia and Central and South America. The operating income in Japan also increased to ¥53.2 billion or $659.1 million (155.8 per cent YOY).
For the sales outlook of next year, forecasts for the next fiscal year are undecided because the company is currently unable to reasonably calculate an impact of the Great East Japan Earthquake on our operating results.
SMC will announce forecasts when they are available.